How much credit needed in energy account going into the winter?

[unlikelychump]

We pay 190 a month and have 410 in credit currently. Im not sure whether to request some refund or whether I should leave it in as it will be drained.

I have around £350 in credit and octopus have automatically decreased my direct debit from £125 a month to £90. Said based on my usual usage that the decrease should mean I’m still paying enough. I’d ring and ask them to reduce the direct debit or just enjoy having your heating on more knowing it’s paid for.

I would leave it where it is for now. If you still have credit built up at the end of March beginning of April when things are warmer and brighter just request it back then. It can be a little savings pot for now and you could treat yourself to a little something. Obviously if you are struggling money wise request some of it now. EDF decreased our direct debit a few years ago and we ended up owing them, so when they try to decrease our direct debit now I ask for it to stay the same. No worries about owing them money and had £500 refund in March this year.

I’d leave it. You could always request any credit back in Spring.

They say a couple of months should be in the pot. Our DD is £125 and we have £350 in the pot.

If you are with Octopus, you can see your energy predictoon by month and see what impact they predict any reduction in DD will have.

We are currently £500 in credit, and reduced our DD slightly. We'll review again in Autumn, and they will automatically adjust as needed as well.

"you can see your energy predictoon by month"

Where do you go to see that, please?

I'm not sure whether other companies do it. If you sign into your account, you should be able to see the Balance Forecast tool on your home page. Here's a blog post about it:

https://octopus.energy/blog/balance-forecast-explained/

Thanks.

Urgh.

Unavailable
Balance Forecast
Balance Forecast is currently available for customers who pay by a fixed Direct Debit, are on a standard Fixed or Flexible tariff and had a bill issued in the last 60 days. If you have any questions about this, please get in touch.

I never understand the concept of building up "credit" with energy companies.

I am with Octopus and I simply adjust my direct debit online to cover payment of the latest invoice.

I don't want my money to be held in the utility company account when it can stay in mine & earn me interest...

Work out your actual usage over a year based on actual meter readings and cost it at current price. Spread over 12 months is it what you are paying monthly now? If payments over the next 12 months will cover it then get the credit repaid, if not leave the credit or as much of it as needed to top up the next 12 months payments.

I only ever request a refund in March, and let it build up at any other time.

I never understand the concept of building up "credit" with energy companies

Same. We're with Octopus for gas and Tomato for Electric. After the bill is issued each month I have token £25 Direct Debits set up which claim, then I just make a manual payment for the remainder, to bring the balance to £0.

I definitely dont want to see a few hundred quid of my own money sitting there for months on end!

I generally build up a fair bit of credit and it makes me feel less worried about having the heating on in the winter. It generally gets used over winter then my credit builds back up over summer. If credit was over £600 I would probably ask for my direct debit to be decreased a bit.

I am similarly surprised people want hundreds to be sat with their energy company- I adjust my payments frequently in the app and keep about £50 credit in there. I am paying £120/ month on my direct debit currently. If I had hundreds sitting there I'd reduce it right down to £100 direct debit and let it naturally start to decrease a bit.